EU FREEZES INVEST DEAL WITH CHINA AS BIDEN AIDE URGES CAUTION

The prospects of cutting an investment deal between the European Union (EU) have gone from bright to dim in a matter of days as an aide to incoming president Joe Biden advised the EU to pump the brakes on such an agreement.

Writing for the Washington Post, Emily Rauhala said the freeze on the investment deal could also signal European skepticism on China and the EU’s willingness to work with Biden administration.

“Chances looked good for the resolution of a years-in-the-making investment agreement between China and the European Commission before the end of the year. This week, that changed,” Rauhala said.

“In the span of days, reports of an emerging consensus gave way to news that negotiators had hit snags, as European officials voiced concern about forced labor in China and a senior aide to President-elect Joe Biden appeared to urge Europe to pump the brakes” she added.

China and Germany are pushing the deal, which would make it easier for European and Chinese companies to invest in each other’s economies. But voices on both sides of the Atlantic are questioning whether this is the right time for Europe to deepen ties with Beijing.

The back and forth says much about how central — and how fraught — the issue of relations with China has become, both within the European Union and between Europe and the United States.

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